About your Search

20110701
20110731
Search Results 0 to 2 of about 3 (some duplicates have been removed)
are wondering where the government can cut costs. the npr came up with one idea. >> each day the u.s. treasury mints nearly $2 million in coins. coins that mostly go directly into storage. abc's john karl checked it out. >> reporter: we took a journey to the u.s. mint in philadelphia where they seem to have more doors than "get smart." for a lesson in how the government is losing money by making money. it sounds a little bit like las vegas around here except the coins never stop coming. this is the presidential dollar coin. congress ordered the mint to make millions of them to honor every dead president. but nobody seems to want them. rutherford b. hayes. hot off the press, literally, these coins are still warm. made of manganese brass, they cost nearly 32 cents a pop to make. the mint makes nearly 2 million of them every day. do the math. about $600,000 a day to make them. and each one of these bags, 140,000 coins, $140,000, more than 2,000 pounds. because almost nobody uses these things, most go directly into storage. we found a bunch of them 100 miles down the road in a vault. here at the f
. on the other hand, we don't want gaps in consumer protection. both cnn and npr have reported that banks which are not within fcc's jurisdiction are selling information that they collect from credit and debit purchases. that is, they are selling their consumers entire purchase histories to retailers. also privacy legislation -- if such legislation is limited to a select group of data collected. for example, if privacy legislation is limited to companies within the ftc's jurisdiction, as are many of the current proposals, the house and the senate, retailers such as amazon would be limited in collecting and selling data about a consumers shopping habit. citibank would be totally free to collect and sell that same information to amazon. do any of you have any concerns about such a scenario? >> i can address the question, and i will do it in reference to the draft bill that was discussed earlier, the data act, where the agency does have a concern if drafted. breach notification, there's a carpet for entities that we subject to the ftc's jurisdiction so we do have a concern about that gap. >> some
Search Results 0 to 2 of about 3 (some duplicates have been removed)